Full-service investment company Genesis Block Ventures (GBV) announces an investment in decentralized privacy service platform Automata Network.
Genesis Block Ventures jointly led Automata’s $1 million seed round with Alameda Research, KR1, IOSG Ventures, and Divergence Capital.
Automata Network is a decentralized service protocol that provides middleware-like services for decentralized applications (dApps), helping them maintain traceless privacy and high assurance, while allowing frictionless integration across Ethereum, Polkadot, Binance Smart Chain, and other blockchain networks.
The protocol harnesses a cryptographic scheme called “Oblivious RAM” (ORAM) to conceal data access patterns, while its privacy relayer will offer unique functionalities such as front-running prevention, anonymous voting, and speedy cross chain transactions.
Automata: Empower dApps with Seamless Privacy
Automata aims to make every user interaction along the data chain private, intuitive and secure. It is well-positioned to capture an immediate market demand for privacy-preserving decentralized finance (DeFi) applications, offering non-intrusive protection for DeFi without having to rewrite them.
As an investment company with a mission of building the future through blockchain technology, Genesis Block Ventures has built a wide-reaching, vibrant blockchain ecosystem, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and decentralized finance (DeFi) projects.
Through the investment, Genesis Block Ventures will help further expand Automata’s opportunities in the crypto and DeFi space. We are thrilled to participate in Automata’s journey to provide a fully private solution for dApps!
About Automata Network
Automata Network is a permissionless protocol that empowers today’s decentralized applications (dApps) with seamless privacy and high assurance.
Automata Network is the first to utilize state-of-the-art Oblivious RAM to effectively conceal data access patterns from enclave to storage, creating an isolated execution environment for shielded and unbiased computation. Its privacy relayer, Geode, offers various functionalities including anonymous voting (Witness) and universal front-running prevention, among other use-cases.
About Genesis Block Ventures
Genesis Block Ventures (GBV) is a full-service investment company closely working with Genesis Block HK, Asia’s leading digital asset over-the-counter (OTC) trading center.
As a private investment company with a mission of building the future through blockchain technology, Genesis Block Ventures is an active participant in the DeFi revolution, and has grown a thriving network to form an effective ecosystem for all aspects of blockchain, crypto, and DeFi projects.